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Prism Worldwide Raises $40 Million in Series A and A1 Funding Co-Led by Columbia Pacific Advisors and former Costco CEO Jim Sinegal

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The company will use the funds to accelerate the commercialization of its sustainable thermoplastic elastomers, high-performance materials derived from recycled end-of-life tires

KIRKLAND, Wash., Nov. 19, 2024 /PRNewswire/ — Prism Worldwide, a leader in innovative material solutions that is dedicated to advancing end-of-life tire recycling technology, today announced it has raised $40 million in Series A and Series A1 funds. Prism is using the funds to consolidate operations, make capital investments in technology and equipment, and expand its team. To date, the funding has provided a foundation from which Prism has reached commercial viability, demonstrated by an initial round of sales and sales commitments for its thermoelastic polymers (TPEs). The development of these TPEs marks the first time any company has successfully created a sustainable, high-performance polymer derived from end-of-life tires. The funding rounds were co-led by return investors Columbia Pacific Advisors, a Seattle alternative investment firm, and Jim Sinegal, co-founder and former CEO of Costco. The combination Series A and Series A1 funding round also includes participation from Robert “Spike” Anderson, former CEO of Anderson Daymon Worldwide. Anderson is Chairman of Prism Worldwide’s board of directors.

“Prism has achieved what no other company has by successfully developing a novel method to turn end-of-life tires into a useful polymer that can be compounded into a wide range of rubber and plastic products,” said John Bratrud, Portfolio Manager, Columbia Pacific Advisors. “Solving the challenge of recycling tires and transforming them into sustainable, high-quality, and reliable material opens a wide range of revenue pathways in every market that uses elastomers and plastics.”

The first deployment of Series A capital was for the acquisition of CRC Polymer Systems, a custom compounding company that supplies compounds, resins, and colors to the plastics industry. The acquisition enabled Prism to increase its capacity for product development, manufacturing and distribution throughout the United States and North America.

“Few companies have such a significant number of avenues to achieve financial success,” said Jim Sinegal, independent investor and co-founder and former CEO of Costco. “In addition to individual customers, Prism’s technology holds profound value for large petrochemical polymer companies seeking ways to make their virgin materials more sustainable.”

Prism breathes new life into end-of-life rubber tires, which traditionally have limited high-value uses. Tires are often burned or ground into final-stage materials used on playground surfaces or sporting fields. With its environmentally friendly technology, Prism reverses the polymerization of the end-of-life tire rubber in a novel, energy-efficient, and low capital-intensive manner that allows the end material to be functional and flexible in a wide range of elastomer and plastic applications. Notably, Prism makes it possible to integrate a higher concentration of recycled materials to be used in both rubber-based and plastic-based products without conceding product quality. Its technology can help companies scale revenues and profitability while helping them achieve sustainability goals by reducing carbon emissions and reliance on virgin petrochemical-based materials.

“Our patented technology has already captured the attention of a significant number of customers in the specialty polymer industry,” said Bob Abramowitz, CEO, Prism Worldwide. “This novel technology eliminates the common fate of end-of-life tires and waste plastics that often litter landfills or illegal dumps by creating functional polymers from these valuable recycled materials. We’re already fielding inquiries from a host of companies seeking ways to make their consumer and industrial products more sustainable. Even more compelling is that once the products manufactured from our polymer intermediates reach their end-of-life usefulness, they can be recycled again, creating a truly circular, long life.”

Notably, Prism is producing a real-world product that’s available for purchase today.

About Prism Worldwide
Prism was founded on the principle that there should be a better use for end-of-life (ELT) tires. We recognize that to solve this long-standing issue we need solutions that provide performance-oriented products. This requires that we address the problem differently.

Developed and patented in the United States, Prism’s technology and products are American-made and American-sourced. Prism provides a cost-effective solution that helps end users increase profitability by using sustainable materials.

We are bringing new patented technology to the market by producing polymer intermediates derived from ground tire rubber. These performance solutions for TPE, TPV, TPO markets (Ancora) and rubber modified plastics polymer markets (Ennova) are sustainable and circular, creating higher value uses for end-of-life tires and offering a route to Making Tires More Circular.

In November 2022, Prism acquired CRC Polymer Systems (CRC), a custom compounding company supplying compounds, resins, and colors to the plastics industry. For more information please visit https://prismww.com/.

Media contact:
Dwain Schenck
386410@email4pr.com 
+1 (203) 223-5230

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SOURCE Prism Worldwide

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CropX Launches a New Era of Sustainable Irrigation in Australia

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Brings Revolutionary Evapotranspiration Monitoring for Precision Irrigation

ADELAIDE, Australia, Nov. 20, 2024 /PRNewswire/ — CropX, a global leader of digital agricultural solutions, is launching throughout the Australasia region a first-of-its-kind sensor for monitoring the real-time plant water use in a field through evapotranspiration (ET). This new, above-canopy sensor connects to the CropX agronomic farm management system to give its users an unprecedented knowledge of crop water use and needs, allowing for data-driven irrigation scheduling and remote management that maximizes water efficiency.

CropX’s Actual ET sensor vastly increases the knowledge of water use at the soil and plant level so that farmers can make well-informed agronomic decisions. Users of the CropX system can reduce irrigation water by up to 50% while still protecting, and even improving, the productivity of their fields.

CropX’s agronomic farm management system links sensors in fields and satellite data with cloud-based advanced agronomic analytics. The system delivers field, weather, and crop data and recommendations via mobile or desktop app. CropX’s soil sensors collect data that is transformed into helpful visualizations and advisory insights that guide the timing and amount of irrigation, fungal disease crop protection, and planting and harvest dates, while acting as a recording repository for on-farm management activities. In New Zealand, Dairy Holdings, a dairy collective that covers over 20,000 hectares, has used CropX as a key tool to reduce irrigation use by 30% while improving the quality and quantity of their yield.

The CropX Actual ET sensor can be used alongside soil moisture sensors to gain a complete picture of water use in a field. It can also be an alternative to a soil moisture sensor when rocky soils make an in-ground soil moisture sensor challenging. Regional evapotranspiration values are commonly used by farmers to estimate how much and when to irrigate, but the CropX option offers the first measurement that covers a specific field on a daily basis. This specificity can reveal microclimate differences, crop stage water uptake differences, and can provide an early detection method for crop stress.  

The evapotranspiration technology came from CropX’s 2022 acquisition of Tule Technologies, a California-based agricultural tech company that developed the patented technology. CropX further has continued to refine the tech and developed a version that can be mounted on a center pivot.

Eitan Dan, managing director of CropX Australasia, says, “It is exciting to bring evapotranspiration sensing to New Zealand and Australia and the rest of the region, as we expand the universe of tools for effectively managing water, the most valuable natural resource we have.”

Additional benefits of the evapotranspiration sensor include the reduction on the reliance on weather stations for ET; field-scale insights that offer a clearer view of field water-use dynamics; and seasonal ET data that can provide insights into how factors like temperature swings and droughts impact water use that can help inform irrigation planning and water budgeting for future seasons.

In New Zealand and Australia, CropX is sold through local dealers. To find a local dealer or to become one, contact us at info.nz@cropx.com.

About CropX

CropX is one of the fastest growing providers of agribusiness farm management solutions in the world, deployed in over 70 countries and across all arable continents. Our flagship product, the CropX agronomic farm management system, synthesizes data from soil to sky to offer advanced soil and crop intelligence and a suite of digital agronomic decision and planning tools, all on an easy-to-use app capable of tracking multiple farms and fields. CropX is backed by the world’s leading agribusinesses and VCs, who recognize that CropX’s precision-ag technologies set new standards of best practices for environmental sustainability and greater farm productivity. Learn more at www.cropx.com.

Media Contact:
Hanna Day-Woodruff
hanna.dw@cropx.com

 

View original content:https://www.prnewswire.com/apac/news-releases/cropx-launches-a-new-era-of-sustainable-irrigation-in-australia-302310255.html

SOURCE CropX

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CropX Launches a New Era of Sustainable Irrigation in New Zealand

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Brings Revolutionary Evapotranspiration Monitoring for Precision Irrigation

WELLINGTON, New Zealand, Nov. 20, 2024 /PRNewswire/ — CropX, a global leader of digital agricultural solutions, is launching throughout the Australasia region a first-of-its-kind sensor for monitoring the real-time plant water use in a field through evapotranspiration (ET). This new, above-canopy sensor connects to the CropX agronomic farm management system to give its users an unprecedented knowledge of crop water use and needs, allowing for data-driven irrigation scheduling and remote management that maximizes water efficiency.

CropX’s Actual ET sensor vastly increases the knowledge of water use at the soil and plant level so that farmers can make well-informed agronomic decisions. Users of the CropX system can reduce irrigation water by up to 50% while still protecting, and even improving, the productivity of their fields.

CropX’s agronomic farm management system links sensors in fields and satellite data with cloud-based advanced agronomic analytics. The system delivers field, weather, and crop data and recommendations via mobile or desktop app. CropX’s soil sensors collect data that is transformed into helpful visualizations and advisory insights that guide the timing and amount of irrigation, fungal disease crop protection, and planting and harvest dates, while acting as a recording repository for on-farm management activities. In New Zealand, Dairy Holdings, a dairy collective that covers over 20,000 hectares, has used CropX as a key tool to reduce irrigation use by 30% while improving the quality and quantity of their yield.

The CropX Actual ET sensor can be used alongside soil moisture sensors to gain a complete picture of water use in a field. It can also be an alternative to a soil moisture sensor when rocky soils make an in-ground soil moisture sensor challenging. Regional evapotranspiration values are commonly used by farmers to estimate how much and when to irrigate, but the CropX option offers the first measurement that covers a specific field on a daily basis. This specificity can reveal microclimate differences, crop stage water uptake differences, and can provide an early detection method for crop stress.  

The evapotranspiration technology came from CropX’s 2022 acquisition of Tule Technologies, a California-based agricultural tech company that developed the patented technology. CropX further has continued to refine the tech and developed a version that can be mounted on a center pivot.

Eitan Dan, managing director of CropX Australasia, says, “It is exciting to bring evapotranspiration sensing to New Zealand and Australia and the rest of the region, as we expand the universe of tools for effectively managing water, the most valuable natural resource we have.”

Additional benefits of the evapotranspiration sensor include the reduction on the reliance on weather stations for ET; field-scale insights that offer a clearer view of field water-use dynamics; and seasonal ET data that can provide insights into how factors like temperature swings and droughts impact water use that can help inform irrigation planning and water budgeting for future seasons.

In New Zealand and Australia, CropX is sold through local dealers. To find a local dealer or to become one, contact us at info.nz@cropx.com.

About CropX

CropX is one of the fastest growing providers of agribusiness farm management solutions in the world, deployed in over 70 countries and across all arable continents. Our flagship product, the CropX agronomic farm management system, synthesizes data from soil to sky to offer advanced soil and crop intelligence and a suite of digital agronomic decision and planning tools, all on an easy-to-use app capable of tracking multiple farms and fields. CropX is backed by the world’s leading agribusinesses and VCs, who recognize that CropX’s precision-ag technologies set new standards of best practices for environmental sustainability and greater farm productivity. Learn more at www.cropx.com.

Media Contact:
Hanna Day-Woodruff
hanna.dw@cropx.com

 

View original content:https://www.prnewswire.com/apac/news-releases/cropx-launches-a-new-era-of-sustainable-irrigation-in-new-zealand-302310275.html

SOURCE CropX

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GRAIL to Participate in Upcoming Investor Conferences

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MENLO PARK, Calif., Nov. 19, 2024 /PRNewswire/ — GRAIL, Inc. (Nasdaq: GRAL), a healthcare company whose mission is to detect cancer early when it can be cured, today announced that company management will participate in the following investor conferences.

Piper Sandler 36th Annual Healthcare Conference in New York, NY: fireside chat on Tuesday, Dec. 3 at 1:30 p.m. ET7th Annual Evercore ISI HealthCONx Conference in Coral Gables, Fla.: fireside chat on Wednesday, Dec. 4 at 3:50 p.m. ET

Live and replay webcasts may be accessed in the investor relations section of GRAIL’s website at investors.grail.com. The webcast will be archived and available for reply for at least 30 days after the event.

About GRAIL
GRAIL is a healthcare company whose mission is to detect cancer early, when it can be cured. GRAIL is focused on alleviating the global burden of cancer by using the power of next-generation sequencing, population-scale clinical studies, and state-of-the-art machine learning, software, and automation to detect and identify multiple deadly cancer types in earlier stages. GRAIL’s targeted methylation-based platform can support the continuum of care for screening and precision oncology, including multi-cancer early detection in symptomatic patients, risk stratification, minimal residual disease detection, biomarker subtyping, treatment and recurrence monitoring. GRAIL is headquartered in Menlo Park, CA with locations in Washington, D.C., North Carolina, and the United Kingdom.
For more information, visit grail.com.

View original content to download multimedia:https://www.prnewswire.com/news-releases/grail-to-participate-in-upcoming-investor-conferences-302310482.html

SOURCE GRAIL, Inc.

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